Location: Burlington-South Burlington, VT | Metro: Burlington-South Burlington, VT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
The ZIP code 05441 corresponds to a rural area in Vermont, not West Virginia. It is a small, tight-knit community with a total population of just 540 residents. Notably, there are no reported renters within this ZIP code, indicating that it is entirely composed of homeowners. The median household income here stands at $67,917, which is relatively modest compared to larger urban areas but quite comfortable for a rural setting. The median home value in ZIP 05441 is $353,590, suggesting that property values are moderate to high, reflecting the area's desirability and the cost of living.
Moving into the economic analysis relevant to Section 8 investors, the Fair Market Rent (FMR) for ZIP 05441 in fiscal year 2024 is set at $1,570. However, there is no available data on the market rent for this ZIP code, which implies that the rental market is either non-existent or extremely limited. Given the absence of renters, it is likely that any rental properties would be few and far between, making it difficult to find tenants who rely solely on Section 8 vouchers.
Considering these factors, ZIP 05441 would not be an ideal location for a hands-off voucher operator due to the lack of rental units and the potential difficulty in finding qualified Section 8 tenants. Instead, this area might suit a hands-on value-add buyer who is willing to convert homes into rental properties or renovate existing structures to attract a higher class of tenant. The modest median income suggests that there could be opportunities for those who can offer affordable housing options, though the focus would need to extend beyond Section 8 alone to ensure a steady stream of tenants.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.